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| CASE CAPTION | Baker v. SeaWorld Entertainment, Inc., et al. |
| COURT | United States District Court for the Southern District of California |
| CASE NUMBER | 3:14-cv-02129-MMA-AGS |
| JUDGE | Honorable Michael M. Anello |
| PLAINTIFFS | Arkansas Public Employees Retirement System |
| DEFENDANT | SeaWorld Entertainment, Inc. (“SeaWorld”), The Blackstone Group L.P. |
On February 11, 2020, Nix Patterson announced a $65 million settlement on behalf of its client, the Arkansas Public Employees Retirement System (“APERS”), and all investor members of the previously certified Class. The settlement was reached after more than 5 years of hard fought litigation and comes just 1 week prior to jury selection.
The case alleges SeaWorld, its senior executives and its controlling shareholder lied to the market about the effects the documentary Blackfish was having on the Company’s business; that during the Class Period (i.e., between August 29, 2013 and August 12, 2014), Defendants violated the federal securities laws by issuing a series of false and misleading statements and omissions denying the 2013 documentary film Blackfish had any impact on attendance at certain of SeaWorld’s parks or its business. Defendants deny the allegations of wrongdoing asserted in the Action and deny any liability whatsoever to any members of the Class.
